{"product_id":"analysing-acquisitions-made-by-dual-class-companies-von-umang-chaddha","title":"Analysing acquisitions made by Dual Class Companies","description":"\u003cp\u003eWe examine the effects of dual-class structure on corporate acquisition activities; We also analyse the effect of the wedge between the cash-flow rights and control rights. By analysing a sample of 2233 corporate takeovers between 1995 and 2012 we find that in the short-run; the dual-class structure has a negative effect on the firms¿ abnormal returns whereas greater deviation between control rights and cash-flow rights within the dual-class sub-sample has an incremental effect on the abnormal returns. However, there is no evidence in favour of the hypothesis that in the long-run, managers use the dual-class structure to sanction unprofitable acquisitions as our long-term cross-sectional tests do not produce significant results. Our results are tested for self-selection issues and coefficients produced for mills ratios were not significant.\u003c\/p\u003e\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783659873621\"\u003e\u003ch3\u003e\u003c\/h3\u003e\u003c\/div\u003e","brand":"Libri","offers":[{"title":"Softcover - 9783659873621","offer_id":39435464081501,"sku":"9783659873621","price":39.9,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/5d0fb4d5-8b84-4874-9773-559f72526992.jpg?v=1775708882","url":"https:\/\/shop.autorenwelt.de\/products\/analysing-acquisitions-made-by-dual-class-companies-von-umang-chaddha","provider":"Autorenwelt Shop","version":"1.0","type":"link"}